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What is currently happening with regular unleaded petrol prices?

April 26, 2017Currently happening petrol prices regular unleaded

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What is currently happening with regular unleaded petrol prices?

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In general terms, Australian petrol prices move in line with the international benchmark. For regular unleaded petrol the benchmark is the spot price of Singapore Mogas 95 Unleaded, which is the price of petrol in Singapore, not crude oil. The price in Singapore is used as the benchmark for Australian prices because Singapore is the closest major refining and marketing centre to Australia. It is the largest source of imported petrol into Australia and has large storage and refining capacity in the Asia-Pacific region. For this reason, the ACCC tracks Australia’s petrol prices against what is happening with the Mogas 95 benchmark. This indicates what is happening with petrol prices in Australia.